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DCB Bank

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DCB Bank Limited
Company typePublic
BSE: 532772
NSE: DCBBANK
IndustryBanking
Financial services
Founded1930s
HeadquartersMumbai, Maharashtra, India
Key people
  • Praveen Achuthan Kutty
    (MD & CEO)
[1]
Products
RevenueIncrease₹5,836.28 crore (FY 23-24)[1]
Increase ₹2,402.14crore (FY 23-24)[1]
Total equity5067.86 crore
Number of employees
11,325 (FY 23-24) [1]
Websitewww.dcbbank.com

DCB Bank Limited is a private sector scheduled commercial bank in India.[2][3] It is amongst the new generation banks that received the scheduled commercial bank license from the bank regulator, Reserve Bank of India. DCB Bank received the licence on 31 May 1995.[4]

A professional management team guided by the Board of Directors runs the Bank. DCB Bank’s business segments include Retail, micro-SME, SME, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). It has approximately 2.5 million customers.

The Aga Khan Fund for Economic Development (AKFED) is the promoter of the Bank with around 15% stake. Public shareholding under the Resident Individual category is approximately 34.44%.

History

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DCB Bank Limited has 451 branches across India, as on 30 September 2024, and has operations within the India geography.[5] It is publicly listed in India on the Bombay Stock Exchange and National Stock Exchange respectively. DCB Bank offered shares to the public by an initial public offering (IPO) in 2006.[6] Historically, DCB Bank's origin from Maharashtra, India was the outcome of the merger between Ismailia Co-operative Bank Limited and the Masalawala Co-operative Bank to form Development Co-operative Bank. This changed to Development Credit Bank upon grant of the scheduled bank license by the Reserve Bank of India in May 1995. In 2013, early 2014 the Reserve Bank of India approved the name change to DCB Bank Ltd.. DCB Bank is the contemporary identity, registered entity, and corporate logo.[7]

Awards

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DCB Bank was the runner-up Best Small Bank in India recognised by Businessworld Magna Awards 2018. It was also rated as the Best Small Bank in India by BusinessWorld Magna Awards 2017. The Bank was conferred the Good Corporate Citizen Award 2017–18 by the Bombay Chamber of Commerce & Industry. This was in recognition of the activities actively promoted by the Bank for sustainability and climate change mitigation across India. DCB Bank has been awarded the "Excellent Services of the Year" award by ASSOCHAM, in the 8th MSMEs Excellence Awards March 2022. It has also won the Best CSR Impact Award in UBS FORUMS 2022 for its work in Banki, Cuttack, Orissa for its Livelihood Improvement Project through Integrated Watershed Management. It has achieved the prestigious Great Place to Work Certification for 2022-2023 which identifies and recognizes Great Workplace Cultures. [citation needed]

See also

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References

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  1. ^ a b c d e f g "Balance Sheet 31.03.2024". dcbbank.com (31st March 2024).
  2. ^ "DCB | About DCB". Archived from the original on 2 February 2014. Retrieved 22 November 2018.
  3. ^ "Development Credit Bank eyeing Rs150 cr through QIP in H2, aims for profit in Q3 – Money – DNA". Dnaindia.com. 18 April 2010. Retrieved 16 March 2011.
  4. ^ "Development Credit Bank Ltd". Rupee Times. 31 May 1995. Retrieved 16 March 2011.
  5. ^ Bank, DCB. "Quick Facts".
  6. ^ "Company History". economictimes.indiatimes.com. Retrieved 16 March 2011.
  7. ^ https://www.business-standard.com/article/companies/dcb-bank-q1-profit-at-rs-700-million-against-rs-650-million-in-q-fy18-118071400624_1.html [bare URL]
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